Full story at kcstar.com
Posted on Mon, Jan. 14, 2002
IMF Chief Pushes Poverty Reduction
HARRY DUNPHY
Associated Press Writer
WASHINGTON (AP) - Wealthy nations should open their markets to poor countries and phase out subsidies to their own farmers and manufacturers if they want their poverty-reduction efforts worldwide to be credible, the head of the International Monetary Fund said Monday.
Speaking at the start of an IMF-World Bank conference on strategies for cutting poverty, Horst Koehler said rich countries should phase out trade-distorting subsidies in areas where developing countries have an advantage - agriculture, processed foods and textiles.
"It is unconscionable for the United States, Japan and the European Union to spend hundreds of billions of dollars on maintaining marginal activities for the benefit of a few of their citizens, while devastating agricultural sectors that are central to peace and development in poor countries," he said
American farmers getting shot at again!
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